PETALING JAYA: Eurospan Holdings Bhd
(EHB) has received a notice of unconditional mandatory takeover offer from AmInvestment Bank Bhd on behalf of EC Synergy (M) Sdn Bhd to acquire all the remaining ordinary shares in the company for a cash consideration of RM2.30 per share.
In a filing with Bursa Malaysia, the company said the offer was made after EC Synergy entered into two share purchase agreements (SPAs) with Datuk Seri Tan Han Chuan and Datin Tan Ching Ching, respectively, to acquire 32.93 million shares in EHB, representing 74.14% equity interest in the company worth RM75.75mil.
“The acquisitions were completed on Aug 20, in accordance with the terms of the SPAs via direct business transactions,” it said.
Samuel Ng Heng Hong, being the sole shareholder as well as the sole director of EC Synergy, is obliged to extend an unconditional mandatory takeover offer to acquire all the remaining EHB shares not already owned.
Prior to the acquisitions, EC Synergy and Ng did not hold any EHB shares, according to the filing. — Bernama
